I am planning to change the oil now that I have gotten to 5k miles, and just ordered the filter cap tool, filter and other supplies from bavauto.

I bought the magnetic oil drain plug and plan to use it at some point. Does anyone think 5k miles is too soon? The microscopic metal fragments help with initial break in, but eventually become detrimental. I am going to let the dealer do the free services at the 10k intervals, so the next time I change the oil on my own probably won't be until 15k.

Might be a stupid question but if motor is made mostly out of aluminium that does not stick to a magnet, what would it catch?

Not the parts that break in. Bearings, piston rings, and cylinder liners... If they were made of aluminum then an engine would be lucky to make it home from the dealership before it was worn out. I use the UCC plug as well.